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Gallagher reveals £264.5m cost of Stackhouse Poland deal

The long-rumoured deal was finally announced in January this year.

Arthur J Gallagher has revealed the purchase price of Stackhouse Poland as $350m (£264.5m) in a US filing.

The document showed that on 22 December 2018, it signed a definitive agreement to acquire 100% of the equity of Stackhouse Poland Group for a cash consideration.

The transaction is subject to regulatory approval and is expected to close in the first quarter of 2019.

However, the deal was finally announced in January this year.

The report was published on the same day that executives gave a presentation to investors via a webcast.As part of that Tom Gallagher, CEO International, stated the broker’s commitment to community broking in the UK.

“We strongly believe in being a community broker in the UK and being close to opportunities,” he noted.

He also said Gallagher’s recent deals were helping to drive organic growth with a “strong pipeline of merger opportunities”.

In December last year Gallagher bought Pavey Group after Michael Rea, chief executive of Gallagher’s UK retail division, stated the business was looking to complete another deal before Christmas.

Rea revealed to Insurance Age in April last year that the broker was set to return to buying. Since then the business has also bought Risk Services, Portmore Insurance Brokers and a controlling interest in Purple Bridge Group.

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